6. Isaac borrowed RM25,000 for his college expenses and he agreed to settle the loan in 108 monthly payments at 5.5% compounded monthly. No use excel a) Calculate the monthly payment. (RM294) b) If Isaac decided to pay off his loan immediately after making the 84th payment, calculate the amount to be settled. (RM6667.32)
6. Isaac borrowed RM25,000 for his college expenses and he agreed to settle the loan in 108 monthly payments at 5.5% compounded monthly. No use excel a) Calculate the monthly payment. (RM294) b) If Isaac decided to pay off his loan immediately after making the 84th payment, calculate the amount to be settled. (RM6667.32)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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6. Isaac borrowed RM25,000 for his college expenses and he agreed to settle the
loan in 108 monthly payments at 5.5% compounded monthly. No use excel
a) Calculate the monthly payment. (RM294)
b) If Isaac decided to pay off his loan immediately after making the 84th payment,
calculate the amount to be settled. (RM6667.32)
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